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Steelers restructure Ike Taylors contract.....

Before dumping contracts and/or forcing players to take pay cuts, the Steelers are willing to give out millions in signing bonuses in exchange for the ability to push cap dollars into future years.

A source with knowledge of the situation tells PFT that cornerback Ike Taylor, who signed a four-year deal with the Steelers before the 2011 season, has converted the maximum amount of his $5.75 million base salary for 2012 into a signing bonus. Since the minimum base salary for a player with Taylorís experience is $825,00, the team was able to give him $4.925 million now.

The maneuver pushed $3.28 million in cap space into future years, pushing the total cap space created by three restructurings to nearly $15 million. The Steelers created $11.7 million by pushing the maximum amount of their 2012 compensation into the form of a signing bonus for linebackers LaMarr Woodley and Lawrence Timmons.

Sweet!! We are slowly but surely getting under the cap!!

If you donít stand behind our troops.....Please feel free to stand in front of them!!!

"Give me a 6 pack, half hour of rest and lets go play them again....We can beat them."
--Jack Lambert

"They say that when you're the champs, everybody will try to beat you. Well, I'm glad we're the champs, so bring 'em on, bring 'em all on. If we die, we ain't gonna die running. It's gonna be a fight."
--Joe Greene

Does anyone know the official/estimate number we are at and how much left we have to go?

From what I'm reading, Woodley, Timmons and Taylors restructured contracts freed up around 15 Mil towards the cap, include the release of McFadden and Battle for another 3.5 Mil, puts us roughly 7-8 Mil more to cut.

If you donít stand behind our troops.....Please feel free to stand in front of them!!!

"Give me a 6 pack, half hour of rest and lets go play them again....We can beat them."
--Jack Lambert

"They say that when you're the champs, everybody will try to beat you. Well, I'm glad we're the champs, so bring 'em on, bring 'em all on. If we die, we ain't gonna die running. It's gonna be a fight."
--Joe Greene

$7-8 million is nothing, they'll be able to work that with just another restructure or 2. You had to know all along that they'd work it out and this crisis situation that everyone was worried about with them being so far over the cap wasn't going to kill them. They still have some aces in the hole with contracts yet to redo with Ward and Hampton, Troy too.

From what I'm reading, Woodley, Timmons and Taylors restructured contracts freed up around 15 Mil towards the cap, include the release of McFadden and Battle for another 3.5 Mil, puts us roughly 7-8 Mil more to cut.